The price of the transaction is undisclosed. According topublished reports, it was about $18 million, or approximately$76.60 per sf. A local broker, not involved in the transaction,confirms to GlobeSt.com that this price is "probably near themark." Schwartz did not return calls by deadline.

Doug Joseph and Lizann McGowan, first VPs operating in both theWayne, PA and local office of CB Richard Ellis, represented theseller. Locally based MS Fox Real Estate represented the buyer.

Joseph tells GlobeSt.com the property is approximately 70%leased. Among the major tenants are Kroll Lindquist AV, HNTB Corp.,and the marketing team for Malvern, PA-based Liberty PropertyTrust's planned new Center City office tower.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Office
Philadelphia